Sethi, who has $3.2 billion in assets under management, said that the Congressional impasse over the federal budget and the debt ceiling was a concern but also a potential chance to buy quality stocks at a discount.

"As we get this sell-off, we've been waiting for an opportunity to buy some of these companies that have just kind of gone straight up," he said.

"I want to buy these really good companies at better prices, and I don't want to get defensive here because I think the defensive stocks will do fine. But once we get a resolution you're going to be left behind by the market, and you want companies that are going to do well."

Trader disclosure: On Oct. 9, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Josh Brown is long AAPL; Josh Brown is long SBUX; Michael Murphy is long BAC; Michael Murphy is long C; Michael Murphy is long FB; Michael Murphy is long HTZ; Pete Najarian is long AAPL; Pete Najarian is long calls C; Pete Najarian is long calls JPM; Pete Najarian is long calls WFC; Pete Najarian is long calls INTC; Pete Najarian is long calls YHOO; Pete Najarian is long calls BBRY; Pete Najarian is long SBUX; Pete Najarian is long stock FB; Pete Najarian is long calls FB; Pete Najarian is long calls MSFT; Jon Najarian is long AAPL; Jon Najarian is long GLD; Jon Najarian is long FB; Jon Najarian is long HPQ; Jon Najarian is long KORS; Jon Najarian is long CYH; Jon Najarian is long THC; Jon Najarian is long HCA; Erinn Murphy is long KORS.